Morning Commentary
What a way to end the week. All sectors were higher, led by Communication Services (XLC), as the market confuses the experts and bears (redundant). The same trend lifted all S&P 500 (SPX) sectors and extended factors.
Mid-cap Momentum
The stealth rally in mid-cap momentum shouldn’t be a secret anymore. The names in the S&P Midcap 400 Index (MID) are an intriguing source of names outside those commonly discussed.
Last week, Industrial (XLI) booms rocketed and helped this become the top factor.
Broader Rally
Thus, 91% of the S&P 500 and S&P 400 rallied on Friday. It’s the kind of session that feels like Mardi Gras, but there is a lot more work to do and lots more hurdles to clear.
Meanwhile, the market may have come too far, too fast. Nearly 90% of the S&P 500 is changing hands above its 20-day moving average. Historically, this kind of spike is greeted with a profit-taking pullback.
I’m cool with some backing and filling.
Earnings Reports
Today’s biggest news will come after the close when Palantir Technologies (PLTR) reports. We made huge profits from the stock, but I have to admit I’m torn. As a fan of their CEO Alex Karp, I cannot wait for his letter to shareholders.
Also, make sure you pick up his book; The Technological Republic
The stock acts amazing – it won’t stay down.
I think it’s a long-term grand slam, but like Nvidia (NVDA), a miscue in this environment (readers have more sway than usual) could cause the stock to be slammed with the slightest miscue.
Watching Apple and Yields
During the session, I will watch to see if Apple (AAPL) can catch a bid and if bond yields start drifting lower again.
Today’s Session
It’s a new week, and a fresh chance to knock on the market. Look out for articles on the chance of a recession.
There is also considerable buzz about President Trump’s interview on Meet the Press yesterday. Mostly “gotcha” stuff, and efforts to diminish everything, from lower gasoline prices to the triumph at the border.
On the trade front, Trump is making it clear that deals will be advantageous for the United States.
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7/15/2025 1:35 PM | Semis Rise & Banks Slide |
7/15/2025 10:13 AM | THE CURIOUS CASE |
7/14/2025 1:32 PM | Decisive Week |
7/14/2025 9:32 AM | GET READY! |
7/11/2025 1:45 PM | Facing Pressure |
7/11/2025 9:48 AM | CLEAR FOR TAKEOFF |
7/10/2025 1:53 PM | Small Caps Rally |
7/10/2025 9:56 AM | ENOUGH ZEN TO SHARE |
7/9/2025 1:32 PM | NVDA New Milestone |
7/9/2025 9:46 AM | PASSING THE BATON |
7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
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